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UCU regional official, Martyn Moss, said: 'The University of Manchester is currently planning to axe 171 jobs and around 1,000 staff don't know what their future holds. None of them will be reassured by the university's decision to offer a man with five jobs something else to do.

'We hope that, as an economics professor, Mr Osborne will question how plans to slash local jobs and reduce the opportunities for students, particularly those from the most disadvantaged backgrounds, fits in with his vision for a strong Northern Powerhouse.'

The Evening Standard editor will start in July. As well as editing the London daily and chairing the Northern Powerhouse Partnership, the former Tatton MP also makes after dinner speeches for the Washington Speaker's Bureau, is an advisor to US fund management firm Blackrock and a fellow at US think tank the McCain Institute.